Studio Ghibli stops animation production

The General Manager of Japan's largest animation studio, Studio Ghibli today announced that it will discontinue its publication on animated films that became the pillars of its success over the years. The announcement was made by Toshio in Japan which shocked all the animation fans across the globe. News of the studio’s possible closing went viral over the past few years but it was denied many times. However, the closing was confirmed today. Studio Ghibli was behind the production of many animated films which were well received not only the Japanese but around the world with thousands of hardcore followers. Among the films which received overwhelming response were Spirited Away, My Neighbour Totoro and Howl's Moving Castle. Yet it is not a surprise as the studio was facing financial problems with some of its latest movies failed to achieve the expected returns. Its new film, The Tale of Princess Kaguya, which was released in 2013, only saw 5.1 billion yen (RM16 million) and was considered a failure due to its alleged high cost publicati-on. Its studio's co-founder and back bone, Hayao Miyazaki retired last year and was replaced by Toshio Suzuki who served as the general manager. The studio is currently planning to manage its trademark and copyright of its films with limited staff. It is also mulling to lay off its full-time employees. 'When Marnie Was There' was the studio's last film. It premiered on 19 July in Japan.